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Cross-Border Intraday Market Project (XBID)

The Cross-Border Intraday initiative is a joint initiative by the Power Exchanges: EPEX SPOT (including former APX and Belpex), GME, Nord Pool and OMIE together with the Transmission System Operators (TSOs) from 11 countries, to create a joint integrated intraday cross-border market.

The single intraday market will enable continuous cross-border trading across the entire Europe. This single intraday market solution will be based on a common IT system with one Shared Order Book, a Capacity Management Module and a Shipping Module.

This means that orders entered by market participants for continuous matching in one country can be matched by orders similarly submitted by market participants in any other country within the project’s reach as long as transmission capacity is available.

The intraday solution supports both explicit (where requested by NRAs) and implicit continuous trading and is in line with the EU Target model for an integrated intraday market.

The purpose of the XBID initiative is to increase the overall efficiency of intraday trading.